Fusion is a boutique communications and representation company in Dubai covering the Middle East and North Africa. We consult on tourism, hospitality and aspirational lifestyle products and services, delivered by our team of local and international communications and travel industry professionals. Integrated marketing and business development solutions are at the heart of our philosophy, and our success comes from understanding of local market dynamics, passion for our business and industry knowledge; simply, we know people!

As an extension of your team, we then become: all together…better
Fusion provides clients with an integrated communications service, or a specific segment approach for more effective and maximum utilisation of budgets.

The Gulf has shown tremendous vision and insight as evidenced with its development over the past 10 years.

Fusion can act as the gateway to investment opportunities in the region through personalised appointment schedules or road show presentations to investment sources and potential business partners.

Press Release
10 November 2008

Middle East Maintains Course Amidst Global Cash Crisis

As the rest of the world seems to flounder in the wake of a global credit crunch, the United Arab Emirates is holding course. Investment totalling billions continues to pour into the region and despite some cautious spending, cash continues to flow.

The word on the street is that every sector – from leisure, travel and entertainment to construction, investment and communication – is looking to the Gulf for growth. And it’s not a bad place to look! Not only is the Middle East rich in natural beauty, sporting turquoise beaches, undulating desert dunes and breathtaking mountainous outcrops, but its well known for being a shopper’s mecca, not to mention a developer’s haven.

“The Middle East continues to play a prominent role in international business – from its acquisitions in mature markets, supply of oil and gas to the world energy markets and the growth of its strategic partnerships in Asia,” said Mike Buckley of worldwide business network, CNBC upon introducing the company’s initiative to boost its coverage in the Middle East. Activity surrounding CNBC’s launch features the network as the exclusive broadcast media partner in a series of high-profile regional events and conferences and launching a new Middle East-focused TV segment.

Loving leisure and lifestyle luxury

Almost everywhere you look, the numbers are up concerning leisure and travel to the Middle East. The area boasts some of the most luxurious hotels and resorts in the world and the steady growth in travelers supports this.

Statistics showed a 31.13 percent increase in revenues for Abu Dhabi National Hotels (ADNH) over the past nine months, totaling Dhs1.24 billion. Net profit growth for international hotels under the ADNH portfolio (which include Hilton Abu Dhabi, Le Meridien and the Sheraton Abu Dhabi Hotel and Resort) grew 34%, as did occupancy rates.

An influx of tourists has also resulted in an increase in airline services, with the International Expo Consultants (IEC) and the Dubai Entertainment Amusement and Leisure (DEAL) organizers recently reported to The Gulf Today that the sector is bringing in billions of dollars in revenue, earning more than 27% annual growth this year.

Media reports have hailed Dubai as a work-rich region for five years to come, and Abu Dhabi, the UAE’s capital, as ‘just starting to take off’. But these are not the only areas to have invested in growth opportunities aimed at attracting visitors and investment. Regional draw cards include Saudi Arabia’s Durrat al Arus, the third largest recreational city in the world, Entertainment City in Qatar and Bahrain’s $175 million Iceberg Towers.

“Middle East countries, especially the UAE, offer huge business potential for the entertainment and amusement sector. The Gulf Cooperation Countries (GCC) and the UAE leisure and amusement sector is booming as it ushers more than $100 million worth of investment for indoor entertainment alone,” reported The Gulf Today in November this year.

Construction cashing-in

Those in the construction-know claim that Dubai is home to about 25 percent of the world’s construction cranes, and when scanning the region’s skyline, it’s easily true. Construction in the GCC is progressing with speed and international investment is finding the area hot-to-trot.

Tad Metals recently hailed Dubai as a strategic point for the steel sector because of its geographic advantage – a link for western markets, including Asia, Europe and North America, saying the Emirates of Dubai was well positioned to play a major role in the development of the global market of stainless flat products.

Exhibitors at Conmed 2008 felt that the next decade would see continued growth in the UAE construction industry, despite a recent slowdown in US and European construction markets. In addition, French Trade Commission representative, Pascal Roger, told local media that while French equipment and building material suppliers have been in the UAE for some time, there was currently a large influx of French contractors to the area. “French construction groups are keen to work in the UAE and the region,” he said.

The cushion in the crunch

But how does the recent economic crisis affect the GCC? It would be foolish to ignore such a massive influential financial factor but Middle East businessmen are confident in the region’s strength and have even looked to lemons for lemonade, so to speak.

“The financial crisis offers fantastic opportunities,” said leading business men, speaking at the recent World Economic forum. And recent comments by Foreign Trade Minister, Sheikha Lubna Al-Qasimi, in a visit to the US, said that despite the negative effect of the global financial crisis over a large part of the world, the UAE economy remained solid thanks to the continuous wise directives of its leaders.

In addition to this, business news in the GCC marked an increase of 43% in Dubai exports (compared to last year), despite the global credit crunch, and business leaders have called the GCC the region as “probably the best place to weather the storm”. Business council leaders said that government intervention sheltered the region from major negative woes and they have predicted that the UAE will continue to attract investment.

Adding strength to such sentiment has been the number of excellent investments that have opened up in the region over the past few weeks. These include Philips Consumer Lifestyle International Cluster announcing the move of its headquarters from Vienna to Dubai, saying “We have chosen Dubai to be in the centre of the fastest developing markets. Dubai has forged a reputation as one of the most important and vibrant cities in the Middle East”.

In the entertainment sector, the $250 million partnership between Imagination Abu Dhabi and Hollywood-based Hyde Park Entertainment, to develop, produce and distribute feature films. Other financial movements related to the region included the Abu Dhabi/Barclays investment deal, totaling more than $12 billion. The agreement saw Middle East investors assisting Barclays to raise the funds to repair damage from the global financial crisis and avoid using UK government rescue funds.

In his recent visit to the region, UK Prime Minister, Gordon Brown, believed the cash-rich Gulf states have a crucial role to play in reviving the global economy. Sentiment worth merit but not limited to simply cash injections. The development and growth opportunities that the region holds can be of great benefit to those who invest economically, socially and culturally in the Middle East, and within the region lies opportunity waiting to be sailed into success.

References:
7Days (October 2008)
Emirates Business 24/7 (October 2008, November 2008)
The Gulf Today (October 2008, November 2008)